Skeet Corporation has the following selected account balances at June 30, 2020. Pre- Shareholders’ equity section pare the shareholders’ equity section of the company’s balance sheet.

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Common Shares, 500,000 shares authorized, 100,000 shares issued. Inventory. $70,000 Machinery and Equipment . 82,500 $100,000 Preferred Shares, $1.25, 100,000 shares authorized, Accumulated Amortization- Machinery and Equipment.. Retained Earnings. 32,500 10,000 shares issued. 87,500 97,000 Organization Costs, net.. 42,500 2,500 Cost of Goods Sold...